Last update: Sept. 28, 2017
LAWPRO receives “A” rating from A.M. Best Co. (Nov. 22, 2017)
A.M. Best Co. awarded Lawyers’ Professional Indemnity Company a financial strength rating of “A” and an issuer credit rating of “a” for the seventeenth consecutive time.
2018 Insurance Program (Sept. 28, 2017)
Convocation of the Law Society of Upper Canada approves LAWPRO's 2018 insurance program for the Ontario Bar.
Data analysis leads to refinements in risk-rating.
2017 Insurance Program (Sept. 22, 2016)
Convocation of the Law Society of Upper Canada approves LAWPRO's 2017 insurance program for the Ontario Bar.
Base premium decreased to $2,950 plus strategies to promote access to justice.
LAWPRO receives “A” rating from A.M. Best Co. (Aug. 16, 2016)
A.M. Best Co. awarded Lawyers’ Professional Indemnity Company a financial strength rating of “A” and an issuer credit rating of “a” for the sixteenth consecutive time.
Kathleen A. Waters to receive OBA Award of Excellence in Real Estate (May 24, 2016)
On June 22nd, the Ontario Bar Association will present LAWPRO President and CEO Kathleen A. Waters with the Award of Excellence in Real Estate.
LAWPRO base premium stable for fifth consecutive year (Sept. 24, 2014)
Strong financial results and a moderating claims count have allowed LAWPRO to hold the base premium for the mandatory insurance program at $3,350 for the fifth consecutive year. 2015 marks 20 years of LAWPRO operating primary insurance program.
For more details of the 2015 insurance program, see our Report to Convocation.
LAWPRO receives "A" rating from A.M. Best Co. (June 2, 2014)
A.M. Best Co. has awarded Lawyers’ Professional Indemnity Company (LAWPRO) a financial strength rating of A (Excellent) and an issuer credit rating of "a" for the fourteenth consecutive time. In addition, A.M. Best Co. gave LAWPRO a "stable" outlook for the third year in a row.
Media Release archive
Director of Communications
Lawyers' Professional Indemnity Co. receives A rating from A.M. Best Co.
Toronto, ON, October 30, 2000: Lawyers' Professional Indemnity Company (LPIC) has received an A (Excellent) financial strength rating from the A.M. Best Co., a leading insurance rating and information source. The rating reflects the company's profitable operating performance, excellent capital position, favorable loss reserve development and overall financial strength.
In its rating announcement, A.M. Best Co. commented positively on virtually all aspects of LPIC's operations: "The company's risk-based underwriting model has resulted in consistent profitable underwriting results which, when combined with stable investment income, have contributed to the steady internal growth of the company's capital and financial strength," said the A.M. Best release. "Through its prudent underwriting, sophisticated claims handling and effective reinsurance program, the company has developed a stable market for professional liability coverage in Ontario. In addition to managing claims, the company's focus on customer service, proactive risk management and its title insurance product, TitlePLUS, have provided a valuable resource to its covered lawyers."
In his response to the rating news, LPIC President Malcolm Heins said that both management and members of the LPIC Board of Directors are "delighted and gratified that LPIC has received such an excellent rating. This announcement is an affirmation of our vision and goals for LPIC. Financial stability, superior claims management, a strong customer focus and service excellence, innovative products and services: These are our own benchmarks for the company. To have as influential a company as A.M. Best substantiate both our goals and our track record is an important milestone for LPIC."
LPIC currently provides a comprehensive, flexible and responsive liability insurance program to more than 18,000 lawyers in Ontario. It also provides lawyers with a competitive title insurance product through TitlePLUS, its innovative title insurance/software conveyancing program, and offers excess liability insurance on an optional basis. LPIC is licensed in Ontario, Newfoundland, Nova Scotia, P.E.I. and Nunavut.
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.